Pandemic impact on global labor 4 times worse than in 2009 financial crisis

25/01/2021 5:31:00 PM

The COVID-19 pandemic wiped out an equivalent of 255 million full-time jobs in 2020, says the International Labour Organization

Unemployment, Covıd-19

The COVID-19 pandemic wiped out an equivalent of 255 million full-time jobs in 2020, says the International Labour Organization.

The COVID-19 pandemic wiped out an equivalent of 255 million full-time jobs in 2020, says the International Labour Organization

said on Monday, January 25.The losses compared with the previous year were equivalent to 255 million full-time jobs and included an"unprecedented" 114 million workers joining the ranks of the unemployed and others whose working hours were reduced due to restrictions, it said.

"These massive losses resulted in an 8.3% decline in global labor income (before support measures are included), equivalent to $3.7 trillion or 4.4% of global gross domestic product (GDP)," the ILO, a United Nations agency, said in its 7th report on the crisis since March.

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